US coffee and soft beverage giant Keurig Dr Pepper has announced changes to its executive leadership team ahead of a previously stated CEO transition set for the end of July 2022
KDP said that an anticipated $4bn generated from increased sales over the next three years would lead to $20bn of new acquisitions | Photo credit: via Shutterstock
Keurig Dr Pepper (KDP) has detailed changes to its executive leadership team, with the Texas-based coffee and soft beverages company seeking a President for its Cold Beverages division.
As announced in April 2022, current Chief Finance Officer and President Ozan Dokmecioglu will transition to the position of CEO at the end of July, with current CEO Bob Gamgort transitioning to Executive Chairman.
Ahead of the CEO succession, KDP has announced that Derek Hopkins, its President of Cold Beverages, will be leaving the company at the end of 2022 and that his role will be separated into two new roles - President, Commercial and a more focused President, Cold Beverages role.
Andrew Archambault, who currently serves as Chief Customer Officer, has been promoted to the President, Commercial role and an external search for a new President, Cold Beverages is expected to be completed before the end of 2022.
A further reshuffle sees Mauricio Leyva, who currently serves as President of Coffee, assume an expanded role as Group President, where he will continue to lead on KDP’s coffee business but with an additional focus on international markets and the digitisation of the company.
KDP was formed in 2018 after JAB Holding Company acquired US soft drinks manufacturer and distributor Dr Pepper Snapple and merged it with its Keurig Green Mountain coffee business in a deal worth $18.7bn.
In October 2021, KDP said that an anticipated $4bn generated from increased sales over the next three years would lead to $20bn of new acquisitions amid strong sales of its retail packaged coffee brands, which includes products from prominent US chains Krispy Kreme, Panera Bread, Cinnabon, Caribou Coffee, Tully’s Coffee and Gloria Jeans Coffee.